Word: tobacco
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...does not necessarily depend on record production. In fact the Agriculture Department estimates that total crop production in 1972 will be about 1% less than last year. But since many crops were in oversupply last year, prices were down. This year, by contrast, the market belongs to the farmer. Tobacco auctioneers in North Carolina, where the crop was kept short by the weather, are being forced to ration tobacco at premium prices among customers; in effect the auctions, though performed for custom's sake, are a sham. In California an early frost scared buyers of grapes into believing that...
...tobacco empire of South African Anton Rupert manufactures and sells one out of every 15 cigarettes in the world. His brands include Rothmans in Canada and Dunhill in Britain, as well as the lesser-known Edgeworth cigarettes and pipe tobacco in the U.S. Yet until now his realm was more of a loose association of fiefdoms than an empire. All of his companies were managed and a controlling interest was owned by nationals of the 23 countries where they were located. As a result, the Rupert group does not appear in FORTUNE'S list of the 200 largest corporations...
Waltz figured that he could use his Philip Morris experience to advantage. "Traditionally," he says, "watchmaking has been a family business in Switzerland, and companies were beginning to lose ground to modern foreign enterprises. I had seen internationalization at work in the tobacco business, and I wanted to try the same thing in the production and marketing of watches...
...still far above the average of 7.7% maintained by most other industrial nations. In the past eight years, Tokyo has cut from 155 to 33 the number of quotas that it maintains on imports, but it still tightly limits the inflow of such items as tobacco, rice, wheat and computers...
...Anything that comes out of the South," the late Flannery O'Connor once observed, "is going to be called grotesque by the Northern reader, unless it is grotesque, in which case it is going to be called realistic." Digging behind all the grotesque, realistic "Gone-with-the-Tobacco-Road" cliches, slowly and painstakingly detailing the ambiguous Southern actuality-this has been Robert Coles' work in progress for more than a decade. In the three volumes of his Children of Crisis series, completed earlier this year, he has documented, mostly in their own words, the destinies of families mainly...